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Score

1.49 /10
Danger

Topstep

United States

2-5 years

Suspicious Regulatory License

Global Business

High potential risk

https://www.topstep.com

Influence

AA

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Time Machine
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Score

Regulatory Index0.00

Business Index6.82

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
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40G

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Broker Information

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Company Name

Topstep LLC

Company Abbreviation

Topstep

Platform registered country and region

United States

Company website

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Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2025-06-08
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Data Source WikiFX Data provide
Updated: 2025-06-08
Topstep · Company summary
Topstep Review Summary
Founded2012
Registered Country/RegionUnited States
RegulationNo regulation
Market InstrumentsCME equity futures, forex futures, agricultural futures, energy futures, metals, interest rate futures
Demo Account✅
Leverage/
Spread/
Trading PlatformTopstepX™, NinjaTrader, Quantower, Tradovate, TradingView, T4 by CTS, R|Trader Pro (Rithmic), ATAS – Order Flow Trading Platform, MotiveWave, VolFix, Bookmap, Investor/RT by Linn Software, Jigsaw Daytradr, MultiCharts, Sierra Chart, and Trade Navigator.
Minimum Deposit/
Customer SupportTel: 1-888-407-1611
Email: support@topstep.com

Topstep Information

Topstep is a U.S.-based proprietary trading firm that offers futures traders a chance to trade firm capital after passing a simulated evaluation (Trading Combine). Traders can access futures products, including CME equity futures, forex futures, agricultural futures, energy futures, metals, and interest rate futures. The platform has low entry costs and supports many professional-grade trading platforms, but lack of regulation.

Topstep's homepage

Pros and Cons

Pros Cons
Various trading instrumentsNo regulation
Demo accountsLack of transparency
Supports over a dozen advanced trading platforms

Is Topstep Legit?

Topstep is not a legitimate broker. It is registered in the United States but currently holds no valid regulatory license from the U.S. or any international financial authority. Well-known regulatory bodies such as the FCA (UK), ASIC (Australia), and NFA (USA) do not regulate Topstep.

No license

The domain topstep.com was registered on August 18, 2000, and is set to expire on August 18, 2033. The domain is in a locked status “client transfer prohibited”, which prevents it from being transferred to another registrar, ensuring some level of administrative security.

Domain information

What Can I Trade on Topstep?

Topstep offers trading in futures contracts only, not spot trading. Traders can access futures products, including CME equity futures, forex futures, agricultural futures, energy futures, metals, interest rate futures.

Tradable Instruments Supported
CME equity futures✔
Forex futures✔
Agricultural futures✔
Energy futures✔
Metals✔
Interest rate futures✔
Indices❌
Stocks❌
Cryptocurrencies❌
Bonds❌
Options❌
ETFs❌
What Can I Trade on Topstep?

Account Type

Topstep does not offer traditional live accounts like most brokers. Instead, it provides three tiers of evaluation accounts (Trading Combine®): $50K, $100K, and $150K buying power accounts. These are simulated accounts used to assess a traders performance before offering real capital. Once a trader passes the evaluation phase, they can earn access to an Express Funded Account.

Account TypeLive TradingDemo TradingBest for
$50K Combine❌✔Beginners or low-risk traders
$100K Combine❌✔Intermediate traders
$150K Combine❌✔Experienced traders comfortable with risk
Express Funded Account✔❌Traders who passed evaluation
Account comparison

Topstep Fees

Trading ProductNFA & Clearing Fees (Round-turn)
E-mini S&P 500 (ES)$2.80
Micro E-mini S&P (MES)$0.74
E-mini NASDAQ 100 (NQ)$2.80
Micro E-mini NASDAQ 100 (MNQ)$0.74

Topsteps trading fees are low to moderate compared to industry standards, especially when using its own platform, TopstepX.

Topstep Fees

Swap Rates

Topstep does not charge swap rates or overnight rollover fees, because all trading must be done during regular trading hours. Swing trading is not permitted, positions must be closed daily.

Non-Trading Fees

Non-Trading FeesDetails
Deposit Fee ❌
Withdrawal Fee ❌
Inactivity Fee Not mentioned
Fees

Trading Platform

Trading PlatformSupported Available Devices Suitable for
TopstepX✔Mobile, MacBeginner to intermediate
NinjaTrader✔DesktopExperienced
Quantower✔DesktopExperienced
Tradovate✔MobileBeginner-friendly
TradingView✔MacChart-focused traders
T4✔MobileBasic futures traders
R|Trader Pro✔MobilePro traders
ATAS OrderFlow Trading✔DesktopOrder flow traders
MotiveWave✔Mobile, MacTechnical analysts
VolFix✔Mobile, MacVolume traders
Bookmap✔MacAdvanced visualization
Investor/RT✔–Professional analysis
Jigsaw Daytradr✔–Scalpers
MultiCharts✔–Quantitative traders
Sierra Chart✔–Custom strategy users
Trade Navigator✔–Charting professionals

Deposit and Withdrawal

Topstep does not charge deposit fees. However, some withdrawal methods do incur a fee. The minimum withdrawal amount is $125.

Deposit Options

Deposit Options Deposit Fees Deposit Time
Visa❌Instant
Mastercard
American Express
Discover
PayPal (old dashboard only)

Withdrawal Options

Withdrawal Options Minimum Withdrawal Withdrawal Fees Withdrawal Time
Wise$125$201–3 business days
ACH
Wire/SWIFTNot mentioned3–5 business days
International Wire/SWIFT5–10 business days
Deposit and Withdrawal

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Savdu
more than one year
A terrible experience... I've lost my $1000 in just one month. So, my advice is... don't use this platform to make money.
A terrible experience... I've lost my $1000 in just one month. So, my advice is... don't use this platform to make money.
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2024-03-25 01:09
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mazcy
more than one year
I've been trading with Topstep for a while now, and I gotta say, they're the real deal. What I love most is how they cater to both the big shots and us "small" traders. Their micro accounts are fantastic, giving folks with smaller bankrolls a chance to test and tweak their strategies with low risk. I've dabbled with other forex firms before, but I've stuck with Topstep for good reason.
I've been trading with Topstep for a while now, and I gotta say, they're the real deal. What I love most is how they cater to both the big shots and us "small" traders. Their micro accounts are fantastic, giving folks with smaller bankrolls a chance to test and tweak their strategies with low risk. I've dabbled with other forex firms before, but I've stuck with Topstep for good reason.
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2024-02-28 17:08
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